Ringgit Extends Rally Against US Dollar To Close Firmer

KUALA LUMPUR, April 26 (Bernama) -- The ringgit extended Tuesday's rally to close firmer against the US dollar on continued buying interest, dealers said. At 6 pm, the local note was quoted at 4.3460/3490 against the greenback from Tuesday's close of 4.3690/3740. A dealer said the rally was fuelled by the better performance on Bursa Malaysia (Malaysia’s Stock Exchange) Wednesday, as foreign traders continued to buy the local currency to trade on the local bourse. “The ringgit uptrend is also in line with other Asian currencies, as investors’ appetite had shifted towards emerging markets ahead of the US tax reform announcement, due later Wednesday,” he added. At the close, the local note was also traded higher against most major currencies. It rose against the Singapore dollar to 3.1163/1196 from 3.1364/1404 and traded higher against the Japanese yen at 3.9044/9078 from 3.9585/9634 on Tuesday. It also strengthened against the British pound to 5.5746/5802 from 5.5949/5027 and advanced against the euro to 4.7371/7413 from 4.7539/7611 previously. -- BERNAMA